Daily Digest · Monday, 28 September 2026· Updated: about 5 hours ago
MM2H property purchases top RM5b; Penang plans more chip-design space
Property purchases under Malaysia My Second Home (MM2H) exceeded RM5 billion in the 23 months to Aug 31, according to figures released over the weekend. Penang, meanwhile, expects about 70,000 sq ft of additional space for its silicon-design initiative by early 2027. Other news since Friday’s digest includes a proposed Kelantan housing project, a Seremban hospital land purchase and residential launches.
Quick takes
- Sunway Healthcare’s Seremban site: A 99.9%-owned subsidiary has signed a sale and purchase agreement to acquire approximately 2.1 acres of freehold land from a related party for RM10.789 million. The agreement follows a letter of offer announced in May; the purchase has not yet completed.
- AndaBreeze launches in Batu Kawan: Kerjaya Prospek Property Bhd launched the freehold, 1,406-unit development on Saturday. Its two towers offer units ranging from 636 sq ft to 1,302 sq ft. The developer said its ongoing projects now have a combined GDV of about RM2 billion.
- IJM Land Bhd and Amona Group said Riana Trees Residences at Pantai Sentral Park, Kuala Lumpur, has topped out at Level 32. The developers reported 90% sales take-up for the 336-unit project and are targeting vacant possession in the first quarter of 2027. Architectural finishes and interior work remain.
- SkyWorld Development Bhd said shareholders approved its share buy-back authority and the other resolutions tabled at its Sept 25 annual general meeting. The mandate permits purchases under its terms; the vote does not mean the company has already bought shares.
Reported property purchases exceed RM5b in 23 months: MM2H
Property purchases under MM2H exceeded RM5 billion between Oct 1, 2024 and Aug 31, 2026, Deputy Tourism, Arts and Culture Minister Chiew Choon Man said in a statement issued on Saturday.
Chiew attributed RM8.85 billion in economic value to the programme during the period. He separately cited more than RM5 billion in property purchases and RM3.82 billion in fixed deposits. The published figures should be reported as stated, rather than presented as an exact reconciliation. MM2H received 7,650 new applications across its Platinum, Gold, Silver and Special Economic Zone categories. China accounted for 3,847 applications, followed by Taiwan with 1,054, Hong Kong with 324, Singapore with 287 and the United States with 284.
The application figures do not show how many applicants were approved or subsequently purchased property. Chiew did not provide a breakdown of the reported purchases by location or buyer nationality. He said the MM2H One Stop Centre plans overseas sales missions targeting Hong Kong, Japan and South Korea.
Why it matters
The purchase figure gives the property industry a measure of MM2H-linked spending. Transaction counts, locations and buyer information would be needed to assess which markets benefited. Applications and property purchases are different datasets and cannot be used to calculate a buyer conversion rate.
Penang expects 70,000 sq ft more room for chip-design firms
Penang expects about 70,000 sq ft of additional space for Penang Silicon Design @5KM+ (PSD@5KM+) to become available by early 2027 as it proceeds with Campus II. The plans were discussed at KL20@Penang last week and reported by EdgeProp on Monday.
The existing 36,000 sq ft incubation facility at GBS TechSpace in Bayan Lepas is fully occupied by seven companies from the programme’s first two batches. Applications for Batch 3 are open.
GBS@Mayang in Bayan Baru has been identified as a Campus II location. The state has not confirmed whether it will accommodate all of the additional space.
Why it matters
More space would increase Penang’s capacity to host and incubate semiconductor-design companies. The final space allocation, fit-out and occupancy will determine how quickly firms can use it.
Also on the radar today
Report revisits completed-home overhang
An analysis published on Monday cited National Property Information Centre figures showing 33,094 completed but unsold residential units worth RM17.78 billion in the first half of 2026, compared with 30,471 units worth RM17.73 billion in the second half of 2025. These are previously released market figures examined in a new report, not a fresh data release today.
Taghill plans 639 apartments in Kota Bharu
Taghill’s Kota Bharu venture: Taghill Holdings Bhd has signed a joint-venture agreement for a proposed 639-unit apartment development on 7.94 acres of Malay Reservation land. Estimated gross development value (GDV) is RM191.7 million. Construction is targeted to begin in the second quarter of 2027, subject to approvals.
EWI Capital’s 3Q loss widens to RM13.23m
EWI Capital’s loss widens: The developer reported a third-quarter net loss of RM13.23 million, compared with RM8.20 million a year earlier, and no consolidated revenue for the quarter. It recorded RM34.7 million in sales based on exchanged contracts in the first 10 months of FY2026, plus RM9.8 million in reservations. Reservations are separate from contracted sales.
Alpha Galaxy and Senheng sign Puncak Alam MoU
Alpha Galaxy Sdn Bhd and Senheng Electric (KL) Sdn Bhd have signed a memorandum of understanding concerning Galaxy Exchange in Puncak Alam. Alpha Galaxy also outlined Galaxy Walk, a proposed 20-unit commercial component for which registration of interest is scheduled to open in October. The memorandum is a collaboration announcement, not a completed tenancy or sale.
Today's roundup
MM2H-linked property purchases exceeded RM5 billion over 23 months, while Penang outlined plans for more chip-design space. Elsewhere, the selected stories cover completed homes still unsold, new development plans, a hospital land purchase, construction progress and listed-company results.
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